GDP (current US$), per capita in Faroe Islands
Faroe Islands: GDP (current US$), per capita was 71,828 current US$ per person in 2023. ◆ Volatile
GDP (current US$), per capita in Faroe Islands, 1970–2023
Source: Statizoid (derived). Measured in current US$ per person.
Analysis
The most recent figure for gdp (current us$), per capita in Faroe Islands is 71,828 current US$ per person, measured in 2023. That is the highest value across all 54 years on record.
The figure is up 8.6% on the previous year and up 28.8% over ten years.
Over the whole period, gdp (current us$), per capita in Faroe Islands peaked at 71,828 current US$ per person in 2023 and was at its lowest, 2,219 current US$ per person, in 1970.
That places Faroe Islands 16th out of 211 countries with data for 2023, putting it in the top 10%.
The series is highly variable year to year, so single readings are best treated with caution.
GDP (current US$), per capita in Faroe Islands, year by year
| Year | current US$ per person | Change |
|---|---|---|
| 1970 | 2,219 current US$ per person | — |
| 1971 | 2,564 current US$ per person | +15.5% |
| 1972 | 3,046 current US$ per person | +18.8% |
| 1973 | 4,068 current US$ per person | +33.5% |
| 1974 | 4,906 current US$ per person | +20.6% |
| 1975 | 5,606 current US$ per person | +14.3% |
| 1976 | 6,594 current US$ per person | +17.6% |
| 1977 | 8,387 current US$ per person | +27.2% |
| 1978 | 9,479 current US$ per person | +13.0% |
| 1979 | 10,549 current US$ per person | +11.3% |
| 1980 | 11,446 current US$ per person | +8.5% |
| 1981 | 10,458 current US$ per person | -8.6% |
| 1982 | 10,053 current US$ per person | -3.9% |
| 1983 | 10,893 current US$ per person | +8.4% |
| 1984 | 9,437 current US$ per person | -13.4% |
| 1985 | 10,048 current US$ per person | +6.5% |
| 1986 | 14,934 current US$ per person | +48.6% |
| 1987 | 18,982 current US$ per person | +27.1% |
| 1988 | 20,453 current US$ per person | +7.7% |
| 1989 | 18,181 current US$ per person | -11.1% |
| 1990 | 20,125 current US$ per person | +10.7% |
| 1991 | 19,164 current US$ per person | -4.8% |
| 1992 | 19,301 current US$ per person | +0.7% |
| 1993 | 16,374 current US$ per person | -15.2% |
| 1994 | 16,976 current US$ per person | +3.7% |
| 1995 | 20,669 current US$ per person | +21.8% |
| 1996 | 22,706 current US$ per person | +9.9% |
| 1997 | 21,158 current US$ per person | -6.8% |
| 1998 | 24,729 current US$ per person | +16.9% |
| 1999 | 24,978 current US$ per person | +1.0% |
| 2000 | 23,323 current US$ per person | -6.6% |
| 2001 | 24,880 current US$ per person | +6.7% |
| 2002 | 26,938 current US$ per person | +8.3% |
| 2003 | 31,270 current US$ per person | +16.1% |
| 2004 | 35,648 current US$ per person | +14.0% |
| 2005 | 36,389 current US$ per person | +2.1% |
| 2006 | 41,744 current US$ per person | +14.7% |
| 2007 | 48,349 current US$ per person | +15.8% |
| 2008 | 51,288 current US$ per person | +6.1% |
| 2009 | 47,060 current US$ per person | -8.2% |
| 2010 | 47,924 current US$ per person | +1.8% |
| 2011 | 51,620 current US$ per person | +7.7% |
| 2012 | 50,263 current US$ per person | -2.6% |
| 2013 | 55,759 current US$ per person | +10.9% |
| 2014 | 60,173 current US$ per person | +7.9% |
| 2015 | 52,638 current US$ per person | -12.5% |
| 2016 | 56,876 current US$ per person | +8.1% |
| 2017 | 59,389 current US$ per person | +4.4% |
| 2018 | 62,525 current US$ per person | +5.3% |
| 2019 | 63,071 current US$ per person | +0.9% |
| 2020 | 62,248 current US$ per person | -1.3% |
| 2021 | 68,768 current US$ per person | +10.5% |
| 2022 | 66,169 current US$ per person | -3.8% |
| 2023 | 71,828 current US$ per person | +8.6% |
Faroe Islands compared with similar countries
- Faroe Islands's 71,828 current US$ per person is above the median for high income countries, which is 36,873 current US$ per person, 1.9× the median. (82 countries reporting)
- Faroe Islands's 71,828 current US$ per person is above the median for Europe & Central Asia, which is 28,863 current US$ per person, 2.5× the median. (55 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 5,742 current US$ per person | 2,219 current US$ per person | 10,549 current US$ per person | 10 |
| 1980s | 13,489 current US$ per person | 9,437 current US$ per person | 20,453 current US$ per person | 10 |
| 1990s | 20,618 current US$ per person | 16,374 current US$ per person | 24,978 current US$ per person | 10 |
| 2000s | 36,689 current US$ per person | 23,323 current US$ per person | 51,288 current US$ per person | 10 |
| 2010s | 56,024 current US$ per person | 47,924 current US$ per person | 63,071 current US$ per person | 10 |
| 2020s | 67,253 current US$ per person | 62,248 current US$ per person | 71,828 current US$ per person | 4 |
Countries ranked near Faroe Islands
More population data for Faroe Islands
- Population regions with projections, annual growth rate -0.2397 % change on previous year (2100)
- Urban and rural population 2050, annual growth rate -1.07 % change on previous year (2050)
- Population long run with projections, annual growth rate -0.2397 % change on previous year (2100)
- Un population 2024 vs 2022, annual growth rate 0.1096 % change on previous year (2100)
- Projected population under age 5, annual growth rate -0.4747 % change on previous year (2100)
- World population growth -0.2% (2100)
- Population density 46.18 people per km² (2100)
- Number of children under 5, by world region 2,935 people (2100)
- Population growth rate, by level of development -0.2% (2100)
- Number of people living in urban and rural areas, annual growth rate 1.68 % change on previous year (2025)
Frequently asked questions
- What is gdp (current us$), per capita in Faroe Islands?
- Gdp (current us$), per capita in Faroe Islands was 71,828 current US$ per person in 2023, according to Statizoid (derived).
- What is the highest gdp (current us$), per capita recorded in Faroe Islands?
- The highest recorded value was 71,828 current US$ per person in 2023.
- What is the lowest gdp (current us$), per capita recorded in Faroe Islands?
- The lowest recorded value was 2,219 current US$ per person in 1970.
- How does Faroe Islands rank for gdp (current us$), per capita?
- Faroe Islands ranks 16th out of 211 countries with data for 2023.
- Is gdp (current us$), per capita rising or falling in Faroe Islands?
- Over the last ten years it is up 28.8%. The long-run trend across the full record is volatile.
- Where does this Faroe Islands data come from?
- The figures come from Statizoid (derived), published as part of GDP (current US$), per capita. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 54 observations, free to reuse under Derived by Statizoid from the sources named on the page.
How this figure is calculated
GDP (current US$) divided by Population, total, matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.
GDP (current US$) ÷ Population, total
Computed from
- GDP UNESCO Institute for Statistics
- Population, total World Population Prospects, United Nations (UN)
Statizoid computes this series; the underlying measurements belong to the publishers named above. The arithmetic is applied to every country and year where both inputs report, and nothing is estimated unless the page says so.
About this data
GDP (current US$) divided by Population, total, matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.